Question 1

Brian Gibbs is evaluating his motorcycle parts assembly operations in Mexico for the amount of manufacturing defects that are being caused by poor workmanship. This balanced scorecard factor is addressed in the __________.
A) learning perspective
B) internal perspective
C) financial perspective
D) quality perspective

Accepted Answer

The internal perspective of the balanced scorecard focuses on the processes, decisions, and actions within the organization that affect its performance. Evaluating manufacturing defects caused by poor workmanship falls under this perspective as it directly relates to the internal operational processes and efficiency.

Question 2

At Southwest Airlines, a financial measure, such as "lower costs," is related to an operations measure, such as _____________.
A) "best in class"
B) "facilitate process improvement"
C) "fast ground turnaround"
D) "reduce customer wait-time"

Accepted Answer

"Fast ground turnaround" is directly related to lower costs because it allows for more efficient use of aircraft and personnel, reducing the time planes spend on the ground and thereby lowering operational costs.

Question 3

Southwest Airlines took an innovative approach to using the balanced scorecard in linking operational goals, such as baggage delivery, to __________.
A) financial perspectives of profitability
B) learning perspectives of employee training
C) customer perspectives of satisfaction
D) internal perspectives of safety

Accepted Answer

The answer of Southwest Airlines took an innovative approach to...

Question 4

Customer perspectives of Southwest Airlines' balanced scorecard include all of the following except __________.
A) lowest prices
B) seat revenue
C) on-time flights
D) Number 1 ranking

Accepted Answer

Customer perspectives typically focus on aspects directly experienced by customers, such as pricing, punctuality, and rankings. "Seat revenue" is a financial metric relevant to the company's internal financial perspective, not directly to customer experience or satisfaction.

Question 5

The balanced scorecard is criticized because __________.
A) it does not link the perspectives to each other
B) the balanced scorecard model is too technical for most managers
C) managers are not given autonomy to pursue perspective goals
D) innovation is internal, but it is not included in the internal perspective

Accepted Answer

The answer of The balanced scorecard is criticized because __________.
A)...

Question 6

Forecasting is concerned primarily with __________.
A) external events or conditions that the organization can control
B) internal events or conditions that the organization can control
C) internal events or conditions that the organization cannot control
D) external events or conditions that the organization cannot control

Accepted Answer

Forecasting is primarily concerned with predicting external events or conditions that the organization cannot control, such as market trends, economic conditions, and consumer behavior, to make informed decisions and plans.

Question 7

Much forecasting is based on __________.
A) simulation
B) extrapolation
C) scenarios
D) the Delphi technique

Accepted Answer

Extrapolation involves extending existing data or trends into the future to make predictions, which is a common method used in forecasting.

Question 8

The simplest, and at times most misleading, form of extrapolation is a __________.
A) linear projection of a present trend into the future
B) linear projection of a past trend into the future
C) curvilinear projection of a present trend into the future
D) curvilinear projection of a past trend into the future

Accepted Answer

The simplest form of extrapolation involves extending a past trend into the future, assuming that the same pattern will continue. This is typically done in a linear fashion, making choice B the correct answer. Linear projections are straightforward because they involve drawing a straight line through data points to predict future values based on past trends.

Question 9

Curtis Youngblood works for Buppy's Bar B Q and is attempting to make a sales forecast for fiscal year 2007. Youngblood knows that sales increased 4% in 2005 and 5% in 2006. He also knows that consumer preferences seem to be shifting away from pork in favor of chicken. Youngblood forecasts 2007 sales to increase 2% on the basis of __________.
A) scenarios
B) extrapolation
C) the Delphi technique
D) simulations

Accepted Answer

Youngblood is using extrapolation, which involves extending or projecting past data into the future to make a forecast. In this case, he is looking at the past sales growth percentages and adjusting his forecast for 2007 based on this trend, albeit at a lower rate due to changing consumer preferences.

Question 10

Ainsley Vannaman needs to make a decision on whether to expand her business to a second location. She assembles a panel of experts including ten members from her chamber of commerce, her accountant, and three professors of strategic management at a local university. The group refined their opinions through a series of questionnaires, step by step, until they reached a consensus that Vannaman should expand to the second location. This decision is an example of __________.
A) scenarios
B) groupthink
C) extrapolation
D) the Delphi technique

Accepted Answer

The process described is the Delphi technique, which involves a group of experts who anonymously reply to questionnaires and subsequently receive feedback in the form of a summary of the responses, with the aim of refining their answers to reach a consensus.

Question 11

__________ is(are) a forecasting aid based on a consensus of a panel of experts.
A) Extrapolation
B) Scenarios
C) The Delphi technique
D) Decision forecasts

Accepted Answer

The Delphi technique is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts. The experts answer questionnaires in two or more rounds. After each round, a facilitator provides an anonymous summary of the experts’ forecasts from the previous round as well as the reasons they provided for their judgments. Thus, experts are encouraged to revise their earlier answers in light of the replies of other members of their panel. It is specifically designed to produce a consensus among experts.

Question 12

The number of experts who participate in the Delphi technique may range from only a few to more than 100, depending on the scope of the study. A range of __________ is recommended for a very focused issue.
A) 10 to 15
B) 15 to 30
C) 20 to 35
D) 40 to 60

Accepted Answer

The answer of The number of experts who participate in...

Question 13

The heart of the Delphi technique is __________.
A) the interviews of the experts
B) the number of rounds
C) the series of questionnaires
D) the number of experts

Accepted Answer

The core of the Delphi technique involves a series of questionnaires sent to experts to gather their opinions and achieve a consensus on a particular issue.

Question 14

The Delphi technique involves __________ basic phases.
A) two
B) three
C) four
D) five

Accepted Answer

The answer of The Delphi technique involves __________ basic phases.
A)...

Question 15

According to the Forecast of Globalization: A Delphi Study, the selection criteria for participation as an expert were:
A) active career in international business for at least 10 years
B) accessibility and willingness to engage in intellectual dialogue
C) a leadership role within the participant's organization
D) all of the above

Accepted Answer

The correct answer is D) all of the above, as the selection criteria for participation as an expert in the Forecast of Globalization: A Delphi Study included having an active career in international business for at least 10 years, accessibility and willingness to engage in intellectual dialogue, and holding a leadership role within the participant's organization.

Question 16

According to the Forecast of Globalization: A Delphi Study, in the ______________round of the Delphi, the respondents were requested to rate the impact such a change would have on corporations and policy makers.
A) first
B) second
C) third
D) fourth

Accepted Answer

In the second round of the Delphi study, respondents typically provide ratings or assessments on the impact of identified changes, which aligns with the context of the question.

Question 17

General Motors developed a system that shows how changes in external variables (e.g., inflation, price changes, unemployment) may affect GM's sales, profits and employment levels. This is an example of __________.
A) the Delphi technique
B) virtual reality
C) a strategic plan
D) a simulation

Accepted Answer

This is an example of a simulation, as it involves creating a model to study how changes in external variables can impact specific outcomes (in this case, GM's sales, profits, and employment levels) without having to experiment in the real world.

Question 18

Which of the following statements about simulations is(are) true?
A) A simulation is a representation of a real system.
B) Simulation is often used to forecast the effects of environmental changes and internal management decisions on an organization.
C) Most simulations are intended to let management ask numerous "what-if" questions.
D) All of the above

Accepted Answer

All of the statements about simulations are true. Simulations are indeed representations of real systems, used to forecast effects of various changes, and allow for "what-if" scenarios to be explored, making all the given options correct.

Question 19

__________ is a story that helps people recognize and adapt to changing features of their environments.
A) A scenario
B) A simulation
C) The Delphi technique
D) An extrapolation

Accepted Answer

A scenario is a narrative or story, often detailed, that describes a sequence of events that could possibly unfold in the future. It is used to help people visualize and prepare for different potential futures, making it a tool for recognizing and adapting to changing features of their environments.

Question 20

__________ provides a way to identify alternative paths that may exist for an organization in the future and the actions that likely are involved in going down each of those paths.
A) The Delphi technique
B) A simulation
C) A scenario
D) An extrapolation

Accepted Answer

A scenario provides a way to identify alternative paths that may exist for an organization in the future and the actions that likely are involved in going down each of those paths. It involves creating detailed, narrative descriptions of different potential futures to help in decision-making.

Quiz 9: Using Planning and Decision Aids

Brian Gibbs is evaluating his motorcycle parts assembly operations in Mexico for the amount of manufacturing defects that are being caused by poor workmanship. This balanced scorecard factor is addressed in the __________.

At Southwest Airlines, a financial measure, such as "lower costs," is related to an operations measure, such as _____________.

Southwest Airlines took an innovative approach to using the balanced scorecard in linking operational goals, such as baggage delivery, to __________.

Customer perspectives of Southwest Airlines' balanced scorecard include all of the following except __________.

The balanced scorecard is criticized because __________.

Forecasting is concerned primarily with __________.

Much forecasting is based on __________.

The simplest, and at times most misleading, form of extrapolation is a __________.

__________ is(are) a forecasting aid based on a consensus of a panel of experts.

The number of experts who participate in the Delphi technique may range from only a few to more than 100, depending on the scope of the study. A range of __________ is recommended for a very focused issue.

The heart of the Delphi technique is __________.

The Delphi technique involves __________ basic phases.

According to the Forecast of Globalization: A Delphi Study, the selection criteria for participation as an expert were:

According to the Forecast of Globalization: A Delphi Study, in the ______________round of the Delphi, the respondents were requested to rate the impact such a change would have on corporations and policy makers.

General Motors developed a system that shows how changes in external variables (e.g., inflation, price changes, unemployment) may affect GM's sales, profits and employment levels. This is an example of __________.

Which of the following statements about simulations is(are) true?

__________ is a story that helps people recognize and adapt to changing features of their environments.

__________ provides a way to identify alternative paths that may exist for an organization in the future and the actions that likely are involved in going down each of those paths.